Avalon Trust Co Has $16.09 Million Holdings in Bloom Energy Co. (NYSE:BE)

Avalon Trust Co cut its holdings in Bloom Energy Co. (NYSE:BE) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 724,320 shares of the company’s stock after selling 1,680 shares during the period. Bloom Energy comprises approximately 1.1% of Avalon Trust Co’s investment portfolio, making the stock its 28th biggest holding. Avalon Trust Co’s holdings in Bloom Energy were worth $16,087,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BE. Millburn Ridgefield Corp increased its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in Bloom Energy during the fourth quarter worth $28,000. Smartleaf Asset Management LLC increased its holdings in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy during the third quarter worth $34,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.81% of the stock is currently owned by company insiders.

Bloom Energy Trading Up 1.9 %

Shares of Bloom Energy stock opened at $24.39 on Friday. The firm has a 50-day moving average of $24.12 and a 200-day moving average of $18.92. The stock has a market cap of $5.62 billion, a PE ratio of -43.55 and a beta of 3.30. Bloom Energy Co. has a 52-week low of $8.99 and a 52-week high of $29.83. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BE. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Roth Mkm started coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock. Jefferies Financial Group lifted their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Piper Sandler reduced their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, TD Cowen lifted their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.47.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.